QUARTERLY DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2019

Quarterly results of operations were as follows during 2019 and 2018:



	2019
(in thousands, except per share data)	Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Interest and dividend income	$	34,117	$	34,262	$	33,785	$	33,227
Interest expense	10,013		11,817		12,289		11,462
Net interest income	24,104		22,445		21,496		21,765
Non-interest income	7,806		7,643		7,453		6,167
Provision for loan losses	538		893		562		324
Non-interest expense	26,803		23,400		20,906		18,624
Income before income taxes	4,569		5,795		7,481		8,984
Income tax expense	362		780		1,364		1,703
Net income	$	4,207	$	5,015	$	6,117	$	7,281

Earnings per share:
Basic	$	0.27	$	0.32	$	0.39	$	0.47
Diluted	$	0.27	$	0.32	$	0.39	$	0.47

Weighted average shares outstanding:
Basic	15,554		15,547		15,538		15,523
Diluted	15,602		15,581		15,586		15,587



	2018
(in thousands, except per share data)	Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Interest and dividend income	$	32,772	$	32,184	$	31,718	$	30,777
Interest expense	10,508		9,715		8,726		7,619
Net interest income	22,264		22,469		22,992		23,158
Non-interest income	7,450		7,126		7,121		6,238
Provision for loan losses	572		643		770		795
Non-interest expense	20,096		17,906		18,685		18,852
Income before income taxes	9,046		11,046		10,658		9,749
Income tax expense	1,426		2,076		2,123		1,937
Net income	$	7,620	$	8,970	$	8,535	$	7,812

Earnings per share:
Basic	$	0.49	$	0.58	$	0.55	$	0.51
Diluted	$	0.49	$	0.58	$	0.55	$	0.50

Weighted average shares outstanding:
Basic	15,516		15,503		15,482		15,448
Diluted	15,574		15,580		15,571		15,553